Ruby Red Corp. stockholder's equity section of the balance sheet looks like this on July 30: Stockholder's Equity: Common Stock, $4 par, 225,000 shares authorized, 75,000 shares issued and outstanding 300,000 Paid in Capital in excess of Par Value, Common Stock 625,000 Total Paid in Capital Retained Earnings Total Stockholder's Equity 925,000 570,000 1,495,000 a) Prepare the journal entry to record a 7% stock dividend declared and distributed on July 31 when the market rate was $17 per share. Date Description July Retained Earnings 31 Common Stock, $4 par Paid in Capital in Excess of Par Value, Common Stock b) Post the entries to the T-accounts provided. Common Stock, $4 par x Debit Credit 89250 Retained Earnings Paid in Capital in Excess of Par Value, Common Stock x x